INSUBCONTINENT EXCLUSIVE:
regulations.On Wednesday, the FTX estate filed a motion with the US Bankruptcy Court for the District of Delaware, seeking authorization for
trigger fines and penalties, including personal liability for directors and officers, and/or criminal penalties up to and including
taking steps to ensure compliance with local laws in each jurisdiction before issuing cryptocurrency distributions.Although regulations vary
across the 49 identified countries, they generally prohibit individuals or entities from engaging in any activities related to digital
assets, including crypto trading or distributing crypto-related proceeds to residents within those jurisdictions, the estate stated.The list
restrictions, referring to jurisdictions such as China, Egypt, Iran, Russia, Saudi Arabia, Ukraine and others.FTX estate needs clarityWhile
highlighting the potentially restricted jurisdictions for distributions, the FTX estate is not blocking the payouts to the mentioned
countries entirely.Instead, it said that the recovery trust is holding the distributions pending resolution and is ready to clear some of
them as the process progresses.According to the FTX estate, China accounts for 82% of the value of affected asserted claims among the total
number of potentially restricted foreign jurisdictions.Mainland China remains one of the most contentious jurisdictions regarding
cryptocurrency, as regulators have repeatedly banned crypto transactions but have not explicitly prohibited individuals from holding digital
assets.Source: ZhetengjiNeighboring jurisdictions like Hong Kong have taken a pro-crypto stance, greenlighting crypto investment products
provide clarity to the FTX Recovery Trust and its stakeholders alike, the FTX Recovery Trust has developed the restricted jurisdiction
stablecoins, scammers impersonate Solana devs: Asia Express
